"Thug"
is a similar spelling, meaning a bully, criminal, and the like.
"Thunk" is a word, formed in playfulness as the "past tense" of think. So instead of saying "thought" someone might say I thunk as something of a play on the word, like this:
"If you don't think, you won't get thunk."
That is a play on the saying; "If you don't drink, you won't get drunk."
Any other background information Myra?
.